Kmart Selling Jets
They may not be “blue-light specials,” but you might be able to get a good deal anyway. Kmart Corp., which is restructuring under Chapter 11 bankruptcy protection, has been trying to sell some of its business jets. It’s found a buyer for a 1999 Beechjet 400A. The company has asked the court to approve the sale to Dominion Aircraft for $3.5 million. In July, Kmart sold another jet to Shamrock Equipment Corp. for $1.25 million. A third jet is up for sale. The retailer uses the jets for its divisional presidents to visit stores in their regions. Kmart has been restructuring its divisions and closed 283 stores.
